Manchester Innovation Investment Fund Lessons, implications and ways forward. Alison Gordon Director of Project Development

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1 Manchester Innovation Investment Fund Lessons, implications and ways forward Alison Gordon Director of Project Development

2 Contents Background: the city and region Assets Policy Development Focus: Manchester Innovation Investment Fund Vision From Vision to Reality Learning from Challenges Policy Implications Legacy Further Projects

Investment Fund Vision From Vision to Reality

3 Background: the city and region Greater Manchester Conurbation consisting of 10 local authorities Significant labour pool and largest economy outside London Amongst the top performing sub-regional economies; business productivity levels above regional average Significant and diverse business base and rapid growth in F&P; ICT Digital / Communications; Creative/Digital/New Media; Life Sciences

economies; business productivity levels above regional average Significant and diverse business

4 Governance Association of Greater Manchester Authorities (AGMA) Public sector board Local Enterprise Partnership (LEP) Private sector board Manchester Innovation Group (MIG) Designed to oversee innovation strategy and policy for city-region New Economy Economic development agency for Greater Manchester in charge of overseeing the innovation agenda.

(MIG) Designed to oversee innovation strategy and policy for city-region New Economy

5 Policy Development Manchester Independent Economic Review Evidence Greater Manchester Strategy Strategy Manchester Innovation Investment Fund Test Innovation Developmental Panel Refining the evidence

6 Focus: Manchester Innovation Investment Fund

7 Vision Explore social and economic benefits from innovation. Deliver a step-change in the innovative performance of cities through the lens of an innovation system. Use Greater Manchester as a test-bed for new approaches and the adoption of new thinking. Undertake a series of co-ordinated interventions to increase the rate of (and capacity for) innovation in Greater Manchester.

8 From Vision to Reality Launched in 2007 and concluded in early The Fund invested 7m ( 8.15m) in 30 diverse projects across the city-region. Novel partnership between national, regional and local organisations (National Endowment for Science, Technology and the Arts (NESTA), the North West Regional Development Agency and Manchester City Council). New approach to innovation support using public funding that resulted in both interesting projects and a series of challenges. Move from a commissioning approach to more open yet mixed basis. Consequently 47% of projects were multiply-funded for targeted growth.

Regional Development Agency and Manchester City Council).

10 Learning from Challenges Investment Decision Making Increasingly intelligent commissioning that revisits and re-evaluates the vision Implement Innovation Management processes which support taking on new processes and absorbing innovation. It is essential to learn how to deal with disruptive innovation in a positive way; harnessing change and taking advantage of potential opportunities. Evaluation Awareness of sensible metrics and evaluation processes at the design stage. Tracking quantitative surveys and mechanisms that enable efficient monitoring of projects.

It is essential to learn how to deal with disruptive innovation in a positive way; harnessing change and taking advantage of potential

11 Policy Implications Accountability Innovation policy is radically different in form and structure to more conventional interventions and should be measured against different metrics. Separation of duty between expert decision-making and investors in awards Structural Approach Structure and flexibility are co-dependent in the process of set-up, delivery and evaluation. Social capital Relationships and networks are key determinants on the success or failure of the intervention. Political Change Political change is a constant within the public sector.

Separation of duty between expert decision-making and investors in awards Structural Approach Structure and flexibility are co-dependent

12 Legacy Awareness New appreciation on how the innovation system operates; identifying an appropriate role for public agencies as intermediaries. The concept of the MIIF played a role in catalysing the establishment of an innovation architecture and strategy in the city-region. Collaboration Partnerships between people who wouldn t normally work together have emerged. The MIIF highlighted the right people who can collaborate in future projects. Wider Contributions The opportunity exists to meaningfully capture and disseminate learning, to fully build upon the legacy obtained from the MIIF.

Collaboration Partnerships between people who wouldn t normally work together have emerged.

13 Further Projects Focus on public sector intermediary roles and infrastructure Accelerate Graphene Next Generation Access Eurocities

Driving Innovation Across the Manchester City Region

Driving Innovation Across the Manchester City Region Driving Across the Manchester City Region The Investment Fund www.manchesterknowledge.com Where does innovation happen? Everywhere. It s a global activity which, in the interconnected world of today, knows